Globalstar, Inc. (NYSE:GSAT) Director James Monroe III Acquires 500,000 Shares

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III purchased 500,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average cost of $1.97 per share, with a total value of $985,000.00. Following the completion of the transaction, the director now owns 9,834,090 shares in the company, valued at $19,373,157.30. This trade represents a 5.36 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

James Monroe III also recently made the following trade(s):

• On Wednesday, December 18th, James Monroe III bought 500,000 shares of Globalstar stock. The shares were bought at an average price of $2.00 per share, for a total transaction of $1,000,000.00.
• On Monday, December 16th, James Monroe III bought 500,000 shares of Globalstar stock. The shares were purchased at an average cost of $1.96 per share, for a total transaction of $980,000.00.
• On Friday, December 13th, James Monroe III bought 530,000 shares of Globalstar stock. The shares were acquired at an average price of $1.90 per share, with a total value of $1,007,000.00.

Globalstar Stock Performance

Shares of GSAT stock traded down $0.02 during mid-day trading on Monday, reaching $1.94. 2,807,890 shares of the company were exchanged, compared to its average volume of 8,014,474. Globalstar, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.74. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $3.66 billion, a P/E ratio of -64.50 and a beta of 1.10. The company has a 50 day moving average price of $1.95.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

Institutional Trading of Globalstar

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Globalstar in the 3rd quarter worth approximately $56,000. Sender Co & Partners Inc. bought a new stake in shares of Globalstar in the 3rd quarter worth approximately $106,000. Point72 Asia Singapore Pte. Ltd. boosted its position in Globalstar by 1,000.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock valued at $161,000 after purchasing an additional 117,864 shares during the period. BNP Paribas Financial Markets grew its stake in Globalstar by 26.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock worth $407,000 after buying an additional 68,599 shares during the last quarter. Finally, XTX Topco Ltd increased its position in Globalstar by 3,472.7% in the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock worth $1,211,000 after buying an additional 949,025 shares during the period. 18.89% of the stock is owned by institutional investors.

Globalstar Company Profile

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.